Once again, this is not socialism. This is workers’ capitalism. Thirty years ago, every self-identified socialist, from Stalinists to an-coms, would have agreed that socialism is not merely taking control of the means of production away from the capitalist class but also abolishing market relations where production is no longer done for profit but for the purpose of attempting to rationally allocate resources on the basis of need. Wolff is arguably the leading “socialist” theoretician in the US today, and virtually all present-day “socialists” are proponents of workers’ capitalism and/or social democracy.
Categories: Economics/Class Relations